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The multi-year surge in global metals markets is expected to drive Glencore’s trading profits towards the $3bn mark as the mining and commodities giant brushes off geopolitical woes in Russia and central African.

The global mining kingpin said it will follow its “strongest” year on record with earnings at the top end of its target range of between $2.2bn to $3.2bn from supplying and trading metals, minerals and oil.

Ivan Glasenberg, the FTSE 100 giant’s billionaire chief executive, delivered shareholder dividends of $2.9bn (£2.07bn) for 2017 earlier this year after a global surge in the price of cobalt and copper which are expected to be in high demand for electric vehicles.